P.S. A quick way to help determine if the Netduino's memory is getting filled with events is printing out the avaiable memory using Debug.Print(Debug.GC(true)); in your loop (not the event -- Debug.Print will slow down your event).
Here's the Debug.GC(true) output, and I ran this from the main loop, not the event:
27888 27000 27912 31056 32796 32796 32796 32796 32796 32796 32796 32796 32796 32796 32796 32796 32796 32796 32532 20472
After the 20472, I lose connection with the IDE. I am using a Netduino Plus by the way. If I turn off networking, would that help? I see that with networking turned off, I should have 60k of RAM. If so, how do I turn off networking? If that won't help, what else can I do?